A good is an inferior good if the consumer buys less of it when
A)his income rises.
B)the price of the good rises.
C)the price of a substitute good falls.
D)his income falls.

Name: A good is an inferior good if the consumer buys less of it when A)his income rises. B)the price of the good rises. C)the price of a substitute good falls. D)his income falls.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An inferior good is one where demand decreases as consumer income rises, meaning consumers buy less of it when they have more income.

A Good Is an Inferior Good If the Consumer Buys